| Retirement Distributions | Non-Ret Redemptions | Movies | 529 Distributions & Rollovers | Transfer of Assets/ Rollover |
|---|---|---|---|---|
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No, FA IRA Distribution Request for Automatic Rollover Acct are only for Deminimis account.
Can we use a FA IRA Distribution Request for Automatic Rollover Acct to have money distributed out of a Simple IRA?
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False- The IP can sign a Letter of Instruction but cannot sign the redemption form.
True or False: A financial advisor can sign both the letter of instructions and the redemption form?
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Hogwarts School of witchcraft and Wizardry
What is the name of the school in Harry Potter?
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No- Only the custodian can sign no IP/BENE/ Successor or contingent successor can sign
Can we accept a 529 distribution form that was signed by the financial advisor?
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Yes -The successor custodian's transfer form signed by the shareholder. A DocuSign signature is acceptable on non-Advisor paperwork.
Is a DocuSign signature is acceptable on non-Advisor paperwork?
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No, We would default to state rules.
Client lives and KS and has requested a distribution with 10% Federal tax but no state tax. Can the trade be processed this way?
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Suppressed Check
What should be entered on the handlining code when you receive an RIA? BONUS
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Han Solo
Who was the only non-Jedi in the original Star Wars trilogy to use a lightsaber?
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True
True or False: We can make checks payable to a 3rd party without a signature guarantee if distribution is under $10,000.00?
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True
True or false: Roth IRAs are not eligible for direct rollover into a qualified retirement plan. BONUS
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No, Signature guarantee is required if the amount is greater than $10,000 per fund and requested within 7 calendar days of an AOR address change
Client has requested a check for the total amount of $10,200.00, pulled equally from 3 funds within 5 days of an address change. Is a signature guarantee required to make a check to clients?
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PM- fund 1277 is a next day fund/ only same day funds are marked as AM.
Bank Wire redemption was requested on fund 1277, would the pricing code be AM or PM?
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8.5 hours
How many hours did it originally take to get Jim Carrey to look like the Grinch for the film How the Grinch Stole Christmas? BONUS
|
36-CTSP Beneficiary
What processing code would be used if Check/Wire/ACH made payable to an eligible Institution FBO Bene
|
Code 1- Transfer
Code 24- Rollover
What code is used when make a transfer and what code would be used for a rollover?
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No- provided the amount is less than $100,000 per fund and the AOR has not been changed within 7 calendar days
Charitable Distribution requests made payable to a charitable third party and mailed to the shareholder's address of record, for $500.00. Is a signature guarantee required? BONUS
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Can only withhold 1-30% on Federal tax
If the client requests voluntary federal tax withholding on their redemption what is the minimum and maximum allowed amount?
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Cuff & Link
In the film Rocky, what are Rocky’s pet turtles’ names?
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Yes- Beneficiary does not have to match but participants must match.
You received a transfer request for one beneficiary, but request shows a different beneficiary. Can this be processed? BONUS
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Not for wire we would use FFC.
Do we use FBO every time we are sending out IRA transfer or rollovers?
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• Account number and/or SSN
• Fund name • Dollar amount or number of shares • Distribution method (check, ACH, wire) • Distribution reason • Signature on letter • Withholding election (federal and state), not required for a Roth IRA • Payee's address, if different than the address of record • Signature Guarantee, if applicable
What is all the required information for an IRA distribution?
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One-Time Wire during the processing of the trade
If Bank Wire instructions are received on non-Fidelity Advisor paperwork, these instructions are considered temporary wires and should be added at the transaction level as a?
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Rhinoceros
What is the very first animal seen in Disney’s The Lion King?
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No- Retail forms are treated as a letter of instructions and can not be used for distributions over $25,000.00
A retail form was received requesting the amount of $28,000.00. Can this be processed?
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If the request is NIGO, no callout is necessary. Select the NIGO processing decision and index as follows:
In the Dealer Number field, enter 50314. Add the NIGO reason(s) to the Client Comment section. In NIGO Resolution, select Spreadsheet. Complete the indexing and select Processing Complete to send to a processed status. The item will appear on a daily NIGO report that HOST emails to Charles Schwab.
What makes Charles Swab different when it comes to the NIGO procedure?
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